GM, Ford & Stellantis Slump on Tariffs, Gamestop Sinks on Bitcoin Plan
On this episode of Stock Movers:- General Motors (GM), Ford (F), and Stellantis (STLAM IM) are among big auto companies on the move after President Donald Trump signed a proclamation to implement a 25% tariff on auto imports. The effects of the tariff could be particularly pronounced at the low end of the market, with many of the least-expensive models from the likes of General Motors, Ford, Kia Motors and Hyundai being built outside the US.- GameStop (GME) shares slumped as investors responded to the company’s plans to load up on debt in order to buy Bitcoin. The video-game retailer erased a quarter of its value today, shedding $3 billion in market capitalization in its largest drop since last June. The rout came after the company, on Wednesday afternoon, announced plans to sell $1.3 billion in convertible bonds to fund Bitcoin purchases as it embraces a strategy that was developed by the cryptocurrency advocate Michael Saylor.- Petco (WOOF) shares rose after its full-year earnings outlook beat expectations, signaling its new leader’s efforts to close underperforming stores is boosting profitability.See omnystudio.com/listener for privacy information.
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5:58
Ford Drops on Auto Tariffs, 23andMe Shares Surge and Gamestop Drops
On this episode of Stock Movers:- Ford (F) is lower today following President Trump's announcement on auto tariffs. Trump signed a proclamation to implement a 25% tariff on auto imports, aiming to bring more manufacturing jobs to the US. - 23andMe Holding Co. (ME) shares jump as much as 147% intraday Thursday, a record, after a judge ruled that the genetic testing company can try to sell information about customer data amid its bankruptcy. - Gamestop (GME) shares drop as much as 12%, the biggest intraday drop since Sept. 11, after the video-game retailer announced that it intends to offer $1.3 billion aggregate principal amount convertible senior notes due in 2030. A Wedbush analyst said he expects the offering to “fall flat.”See omnystudio.com/listener for privacy information.
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3:42
AMD Slips after Downgrade, Jefferies Earnings Miss, GM Drops on Auto Tariffs
On this episode of Stock Movers: - Advanced Micro Devices (AMD) shares fell this morning in premarket after the chipmaker was downgraded to hold from buy at Jefferies, with analysts citing limited traction in artificial intelligence, among other negatives. Jefferies analyst Blayne Curtis also says that Street estimates for AMD are too high, while competition from Intel is growing.- Jefferies (JEF) shares slide as much as 10% in regular Thursday trading, the most since Jan. 10, after earnings came in below estimates aftermarket Wednesday. Morgan Stanley lowered its price target on the financial services firm to $75 from $81 following the results.-General Motors (GM) shares tumbled following President Trump's announcement on auto tariffs. Trump signed a proclamation to implement a 25% tariff on auto imports, aiming to bring more manufacturing jobs to the US.See omnystudio.com/listener for privacy information.
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3:36
Tesla Rises Despite Tariffs, Robinhood Jumps on New Products, AMD Slips after Downgrade
On this episode of Stock Movers: - Tesla (TSLA) shares ticked slightly higher in premarket trading after President Trump's tariff announcement yesterday. The president said there would be "absolutely no tariff" for cars made in the US and Tesla has key factories in California and Texas. However, the EV company could still face the effects of tariffs for auto parts.- Robinhood (HOOD) shares rose in premarket trading after the financial services platform introduced several new products at a Wednesday event, including Robinhood Strategies, Robinhood Banking and Robinhood Cortex. Robinhood Strategies is a wealth management service that caps management fees at $250/year for “Gold” subscribers. Robinhood didn’t disclose an RIA referral program, but anticipates a more formal announcement around an RIA referral network “in the coming months.”- Advanced Micro Devices (AMD) shares fell this morning in premarket after the chipmaker was downgraded to hold from buy at Jefferies, with analysts citing limited traction in artificial intelligence, among other negatives. Jefferies analyst Blayne Curtis also says that Street estimates for AMD are too high, while competition from Intel is growing.See omnystudio.com/listener for privacy information.
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4:42
GM Tumbles, Ford Slips, Tesla Up As Tariffs Weigh on Automakers
On this episode of Stock Movers: - General Motors (GM) shares tumbled following President Trump's announcement on auto tariffs. Trump signed a proclamation to implement a 25% tariff on auto imports, aiming to bring more manufacturing jobs to the US. - Ford (F) shares slipped also on the auto tariff news. The tariffs will come into effect on April 3, initially targeting fully assembled vehicles, and will expand to include major automobile parts by May 3.- Tesla (TSLA) shares ticked slightly higher in premarket trading after President Trump's tariff announcement yesterday. The president said there would be "absolutely no tariff" for cars made in the US and Tesla has key factories in California and Texas. However, the EV company could still face the effects of tariffs for auto parts.- Advanced Micro Devices (AMD) shares fell this morning in premarket after the chipmaker was downgraded to hold from buy at Jefferies, with analysts citing limited traction in artificial intelligence, among other negatives. Jefferies analyst Blayne Curtis also says that Street estimates for AMD are too high, while competition from Intel is growing.See omnystudio.com/listener for privacy information.
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